MeiraGTx Holdings PLC (NASDAQ:MGTX) Sees Significant Growth in Short Interest

MeiraGTx Holdings PLC (NASDAQ:MGTX) was the recipient of a significant increase in short interest in the month of December. As of December 31st, there was short interest totalling 841,500 shares, an increase of 11.4% from the December 15th total of 755,700 shares. Approximately 3.9% of the company’s shares are short sold. Based on an average daily trading volume, of 160,700 shares, the days-to-cover ratio is presently 5.2 days.

In other MeiraGTx news, Director Nicole Seligman purchased 5,000 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were purchased at an average cost of $16.31 per share, for a total transaction of $81,550.00. Following the acquisition, the director now owns 5,000 shares of the company’s stock, valued at $81,550. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 17.40% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. State Street Corp grew its holdings in shares of MeiraGTx by 19.3% during the third quarter. State Street Corp now owns 318,242 shares of the company’s stock valued at $5,076,000 after buying an additional 51,522 shares during the last quarter. Russell Investments Group Ltd. purchased a new position in shares of MeiraGTx during the third quarter valued at approximately $568,000. Squarepoint Ops LLC grew its holdings in MeiraGTx by 212.2% during the third quarter. Squarepoint Ops LLC now owns 59,624 shares of the company’s stock worth $951,000 after buying an additional 40,524 shares in the last quarter. Orbimed Advisors LLC grew its holdings in MeiraGTx by 29.5% during the third quarter. Orbimed Advisors LLC now owns 3,349,060 shares of the company’s stock worth $53,418,000 after buying an additional 762,109 shares in the last quarter. Finally, Meeder Asset Management Inc. raised its position in MeiraGTx by 2,168.0% in the 3rd quarter. Meeder Asset Management Inc. now owns 3,334 shares of the company’s stock valued at $53,000 after buying an additional 3,187 shares during the last quarter. Hedge funds and other institutional investors own 42.18% of the company’s stock.

Several brokerages have recently weighed in on MGTX. Zacks Investment Research lowered shares of MeiraGTx from a “buy” rating to a “hold” rating in a report on Wednesday, January 8th. Chardan Capital restated a “buy” rating and issued a $45.00 target price on shares of MeiraGTx in a research note on Monday, December 16th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $40.00 target price on shares of MeiraGTx in a research report on Monday, December 16th. Finally, ValuEngine downgraded MeiraGTx from a “hold” rating to a “sell” rating in a research note on Tuesday, December 3rd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. MeiraGTx currently has a consensus rating of “Hold” and a consensus price target of $33.00.

Shares of MGTX traded up $0.20 during trading hours on Thursday, reaching $20.50. The stock had a trading volume of 6,381 shares, compared to its average volume of 148,336. MeiraGTx has a 12 month low of $9.10 and a 12 month high of $30.23. The firm has a 50-day simple moving average of $20.37 and a 200 day simple moving average of $20.32. The company has a current ratio of 6.90, a quick ratio of 6.90 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $735.09 million, a price-to-earnings ratio of -4.67 and a beta of 2.20.

MeiraGTx (NASDAQ:MGTX) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.52) by $0.22. The business had revenue of $3.58 million during the quarter. On average, equities analysts forecast that MeiraGTx will post -2.22 EPS for the current year.

About MeiraGTx

MeiraGTx Holdings plc, a clinical-stage gene therapy company, focusing on developing treatments for patients living with serious diseases. The company develops various therapies for ocular diseases, including rare inherited blindness, as well as Xerostomia following radiation treatment for head and neck cancers; neurodegenerative diseases, such as amyothrophic lateral sclerosis; and Parkinson's diseases.

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